Posted on 02/04/2024 4:42:16 PM PST by ChicagoConservative27
Federal Reserve Chair Jerome Powell said “the U.S. is on an unsustainable fiscal path” in an 60 Minutes interview with Scott Pelley released Sunday.
“The U.S. federal government’s on an unsustainable fiscal path. And that just means that the debt is growing faster than the economy. So, it is unsustainable. I don’t think that’s at all controversial,” Powell said when asked if the national debt is a danger to the economy.
(Excerpt) Read more at thehill.com ...
“Currency debasement is a made up word for people who don’t understand currency.”
Debase is a verb that means to lower in status, esteem, quality, or character; to reduce the intrinsic value of (a coin) by increasing the base-metal content; or to reduce the exchange value of (a monetary unit). See synonyms, examples, history and related words of debase.
A schoolmarm pulled out a dictionary and read a definition to me when I was 8 years old.
I wouldn’t trust her with my investments then or now.
Why is he letting this happen?
Isn’t he Large and in Charge?
[Lock him up.]
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Yes, he is ultimately responsible by enabling the Treasury Dept. to sell bonds that the market can’t absorb. This alone should tell the discriminating observer that the Fed isn’t really clutching pearls over “fiscal unsustainability”.
Deflationary?
Nice planet you’re living on - where unicorns blow magical “deflationary” skittles out their asses.
Deflationary?
Nice planet you’re living on - where unicorns blow magical “deflationary” skittles out their asses.
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Inflation & Deflation are just words.
Words for people that don’t know much about investing.
If you’re screaming about inflation, you don’t know how to manage your finances.
I don’t care what you do, either way.
They've known Biden will not run for more that a year.
What they are doing has two elements:
1) Allow the "FJB" contingent to get all revved up, so when the announcement is made, as late as possible, all the air will rush out of their balloon and they will relax, having "won" the battle to get rid of this poor sick old man.
2) Prevent any significant oppo research on the Newsom/Whitmer ticket, by the time the GOP gets around to moving the needle on them, it will be the third week in October - too late to make a difference.
Good morning, Rip. A lot has happened since you played ninepins with the wee folk and then took their draught and slumbered.
So we'll see a default and/or benefit cuts.
It'll just happen.
The average social security check is $1,705.79
You might get $500.
Let's give Ukraine another 100 billion, that will help. Oh, and pay trillions to people not to work.
Long term, yes.
But I am not going to bet we will make it “long term”.
Long term, yes.
But I am not going to bet we will make it “long term”.
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Yet we’re still here. Our ancestors lived through times like now & so will our descendents.
We’ll be fine.
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